Full tutorial on the HotForex broker, learn how to use the HotForex online broker, here you will find all the information to start trading in seconds.

Today we are going to talk about one of the best known online brokers to trade mostly in Forex where we can find some of the most competitive spreads in the market, in addition to an effective, fast and most important FREE support in multiple languages. In HotForex we will be able to contact an agent to ask and answer any questions.

HotForex has several subsidiary companies located in different countries, which allows it to provide services to customers around the world. For example, there is HF Markets SA (PTY) located in South Africa, HF Markets (SV) Ltd located in Saint Vincent and the Grenadines and HF Markets Ltd located in the Republic of Mauritius. In Europe it is listed as HF Markets (Europe) Ltd. which responds to the following identification number 277582 and, like most of the online brokers operating within Europe, it is located in Cyprus exactly in the city of Larnaca.

This online broker has been online since 2008 expanding its borders and is currently operating throughout Europe, Asia, and Latin America, with great success.

In addition to all these data we can say that HotForex is registered in the following financial services regulation bodies:

  • In CySEC (Cyprus Securities and Exchange Commission). It is the body responsible for regulating the financial market of Cyprus, following the rules established within the European Union and Cyprus.
  • In the FSC (Financial Services Commission of the Republic of Mauritius). It is the body responsible for regulating the financial market in the Republic of Mauritius.

Also, in all these years HotForex has achieved great awards, specifically more than twenty with which it has managed to stand out among many other brokers. It currently has more than 400,000 user accounts, has more than 140 employees, the portal is in 24 languages different and as I said at the beginning it has very good support in English, Spanish and German.

Of course, we will be able to download for free and trade with the Metatrader 4 platform for PC (Windows, Mac, and Linux) as well as for Mobile and tablet (IOS or Android).

You can find more information about the HotForex broker and its online brokerage services in the following guide: HotForex broker review

Summary of HotForex services

Brokers TypeECN/STP
Trading InstrumentsForex, CFD
Trading platformsMetatrader 4, Metatrader 5, Webtrader
Accepted CountriesEurope, Asia and Latin America
LanguagesEnglish, Spanish, Portuguese, German, French, Russian, Italian, Polish, etc …
Minimum deposit$5
Deposit methodsBank transfer, credit cards, Skrill, Neteller, Webmoney, Bitcoin
Withdrawal methodsBank transfer, credit cards, Skrill, Neteller, Webmoney, Bitcoin

* It also has its own card that we can request to withdraw our money.

Maximum leverage1:1000
Demo accountYes
Bonus promotionsA credit bonus of 100% and a rescue bonus of 30%
Affiliate programYes

Types of HotForex accounts

In HotForex we will find up to 6 different account types, although we will only talk about three of them that are the most common and recommended to use.

-Micro Account: This account type is for beginner traders with little trading capital who want to start their career in the market. In the Micro account, we can trade currencies, indices, commodities, and CFDs.

  • The minimum lot size that we will be able to trade with this type of accounts is 0.01 lot and the maximum trade size is 5 lots with a maximum of 150 simultaneous positions.
  • The maximum leverage for micro accounts is 1:1000

-Premium Account: This account type is the most appropriate for those users who are going to make a deposit of more than $100 and want better trading conditions. In the Premium account, we can trade currencies, indices, commodities, and CFDs.

  • The minimum lot size that we will be able to trade with this type of accounts is 0.01 lots and the maximum trade size is 60 lots with a maximum of 300 simultaneous positions.
  • The maximum leverage for premium accounts is 1:500

-Zero Spread Account: These types of accounts are ideal for traders who want to access the lowest spreads offered by the market, interbank type. The spreads are from 0.0 pips onwards for the main currency pairs.

  • The minimum lot size that we will be able to trade with this type of accounts is 0.01 lots and the maximum trade size is 60 lots with a maximum of 300 simultaneous positions.
  • The maximum leverage for premium accounts is 1:500

As I say, these are the three basic accounts that we can find in HotForex. For beginner traders, it is best to open a Micro account as it requires a minimum deposit of $5. For a more experienced trader, the best are Premium or Zero Spread accounts.

Trading accounts of HotForex

Spreads of HotForex

At the beginning of the article, we have indicated that HotForex has very competitive spreads (trading costs) in the online broker market, these commissions vary depending on the type of account we have.

The higher our account, the lower the spread that we will be charged in each trade, therefore, the fewer commissions we are going to pay.

Next, we will see an image of the spread that we must pay in HotForex when we open a trade in one of its trading accounts, you can compare yourself with other brokers to see the difference.

HotForex spreads for Forex

Conclusions

Trading in Forex is not a simple task but with practice, using demo accounts and some other tool that provides us with optimal trading signals, you can generate a lot of money, although it is important to say that we must assume the risk involved in trading in the financial markets whether foreign exchange, commodities, indexes, etc.

HotForex gives us that security because it allows its customers to start trading with a reputable online broker due to its trajectory both in prizes won and in experience and most importantly it’s regulation since it is registered in important regulatory entities of financial services.

On the other hand, we can say that HotForex in its different trading accounts has one of the most competitive spreads in the market, which allows short-term trading strategies to be applied, including scalping. In addition, it has known trading platforms such as Metatrader 4 and Metatrader 5 that stand out for their stability and multiple market analysis tools.

HotForex

 

– ECN/STP broker from Europe specialized in Forex and CFD

-Regulated by organizations such as CySEC

-Tight spreads and low commissions